Trade deficit india

India on Friday said its trade deficit was "ballooning" after imports sharply outpaced exports last month.
Imports accelerated by 21 percent to $40 billion in February from a year earlier, mainly driven by oil purchases, while merchandise exports grew by by a much slower 4.3 percent to $24.6 billion, hit by weak global markets.
"There is a large ballooning of the trade deficit," India's Commerce Secretary Rahul Khullar said in New Delhi.
The government raised its trade deficit forecast for the financial year to March 31 to $175 billion-$180 billion from $160 billion projected earlier. The trade gap totalled $104 billion last year.
Khullar told reporters that exports for the current fiscal year could undershoot the government's initial $300-billion target by a few billion dollars.
The bigger projected trade gap could also widen the current account deficit -- the total sum of trade and investment flows, analysts said.
Last month, the government forecast the trade gap would … [Read more...] about India says trade deficit ‘ballooning’

What is your opinion about the recent trade deficit? The trade deficit in the first two months of 2010 was estimated at US$1.74 billion, equal to 19.6 % of total import spending. The level of trade deficit lies in the territory approved by the National Assembly, at not more than 20 %. However, the situation is not very worrying because there are some causes for the high trade deficit. To be exact, Vietnam did not export gemstones and precious metals in the first months as many as in 2009 but spending billions of dollars on these items to stabilise the domestic market. In my opinion, this matter will not be a major concern in the following months. On the other hand, import expenditures of foreign-invested enterprises increased 50 % while high value of imported commodities also caused an inflation of value. Trade deficit widened because exports declined. While production input materials such as petrol increased, agricultural products retreated in price. For instance, rice and coffee … [Read more...] about Working out Remedy for Trade Deficit

Vietnam incurred a huge trade deficit of US$910.8 million with India in the first nine months of this year, according to the Indian Embassy in Vietnam. The Southeast Asian country imported US$1.17 billion worth of goods from India during the time and exported US$259.2 million, said the embassy without giving comparative figures. Computers, electronics and spare parts, coffee, pepper and tea were Vietnam's key exports while steel, animal feed materials, pharmaceuticals, machines and equipment were its main imports during the time. Trade between Vietnam and India is forecast to hit US$5 billion in 2015, doubling last year's figure, President of Indian Business Chamber in Vietnam (INCHAM) S. Srivastava said at the Vietnam-India trade and investment forum held in Ho Chi Minh City on Oct 6. (VIR) … [Read more...] about Vietnam Runs US$910.8M Trade Deficit with India in Jan-Sept

Vietnam incurred a $1.11-billion trade deficit with India in the first eleven months of 2009, the Ministry of Industry and Trade said on its website without giving on-year comparison. Vietnam exported $361.18 million worth of goods to India, up 0.3% on-year and imported $1.47 billion, the ministry said. Computers, electronics, machinery and coffee were Vietnam's key products to the south Asian country and animal feed and materials, pharmaceuticals, iron and steel and plastic materials were the country's main imports. The ASEAN-India Free Trade Agreement (AIFTA) effective from early this year is expected to accelerate Vietnam-India trade ties and help Vietnam reduce its trade deficit with India, said the MoIT. AIFTA will create many opportunities for Vietnam as 63% of its exports to India are eligible for tax removal. Vietnam will start reducing tariffs in line with the AIFTA in March. Under the agreement effective Jan 01, 2010, ASEAN and India will remove tariffs on many products such … [Read more...] about Vietnam Runs $1.11B Trade Deficit with India in Jan-Nov

According to statistics announced by the General Department of Vietnam Customs, the import and export turnover of Vietnam from January to the end of 15 July 2012 reached over US$115 billion, up 12.7 percent over the same period in 2011. In particular, exports reached US$57.5 billion, up 20.2 percent and import was US$57.9 billion, up 6 percent.
The statistics of the General Department of Customs also showed that total export and import of goods in Vietnam in the 1st period of July (from 1 to 15 July) reached US$ 8.39 billion, down 12.1 percent compared to the results of the second half of June-2012. The trade balance of goods in Vietnam in the 1st period of July had a surplus of US$50 million. Thus, as of July 15, trade deficit of the country was US$423 million, accounting for 0.7 percent of export turnover and much lower than the US$6.8 billion trade deficit last year. This is not really a great result, because Vietnam has been a country of "trade deficit" for many years with the … [Read more...] about Trade Deficit Decline: Sign of Relief or Worry?

Vietnam's trade deficit with India has narrowed gradually, hitting just over 330 millions USD in the first half of 2012, down 45 percent against the same period last year.
Vo Tan Thanh, Director of the Vietnam Chamber of Industry and Commerce in HCM City (VCCI- HCM City) said at a Dec. 6 trade seminar that bilateral trade and investment between Vietnam and India also receives a boost by a stable legal framework and the signing of cooperation agreements.
He also noted the positive signs in investment ties, adding however, that India's investment in Vietnam remains at a modest level.
Ranjit Rae, Indian Ambassador to Vietnam, said that while trade balance between Vietnam and India has improved, bilateral economic activities tend to reduce against last year.
He emphasised the need to put forth new initiatives to stimulate cooperation such as conducting surveys in each sector, making concrete recommendations and exchanging trade delegations regularly. … [Read more...] about Vietnam narrows trade deficit with India

In 2015, Viet Nam had a trade deficit of US$3.2 billion after three consecutive years of posting trade surpluses. In 2016, the trade deficit could continue and even increase because many of the free trade agreements (FTAs) coming into effect.
Nguyen Bich Lam, head of the General Statistics Office (GSO), spoke to the dautuonline about those issues.
Viet Nam has already signed many FTAs with its partners over the past years. The FTAs are part of the final years of the roadmap on commercialisation. In 2015, Viet Nam continued signing new FTAs to open its markets further in the future. How will the new FTAs affect the domestic economy?
Together with other ASEAN countries, Viet Nam has signed FTAs with China, South Korea, Japan, Australia, New Zealand and India. These FTAs were to become effective during the final years of the schedule on cutting tariffs.
After the FTAs came into effect, the local economy saw many benefits, including a strong increase in import and export values and … [Read more...] about Trade deficit won’t stop growth

HA NOI (VNS)— Bilateral trade between Viet Nam and India surpassed US$1.3 billion during the first quarter this year, representing a 40.2 per cent rise over the same period last year, according to the Vietnamese trade counsellor in India.
Out of the total figure, Viet Nam's exports earned $533 million, recording a surge of 59.3 per cent, while the country's imports from India were at $774 million, increasing by 29.5 per cent, said trade counsellor Nguyen Son Ha. The country's trade deficit with India fell 8.3 per cent. Vietnamese export items to record high growth included phones and phone components ($238.5 million, up 174.6 per cent), computers, electronic products and components ($51.7 million, up 104.4 per cent), and coffee ($25.8 million, a rise of 118.3 per cent). In addition, chemical products, fibre and timber products also saw increases of 42 per cent, 84 per cent and 82 per cent respectively. Several categories of Vietnamese products saw declining exports, such as … [Read more...] about Trade with India on the rise

NEW DELHI (dataLEADS/ ANN) — The US imports more from Asian countries than it exports and as per available data the US runs trade deficits with most of Asian countries except Singapore. The US has trade surplus of $8 billion with Singapore.
While the US imports $985 billion from Asia, the total value of its exports to the region is $452 billion, as per the data from USA Census Bureau. The US shipped $116 billion of goods to China in 2016 but it imported goods worth $463 billion from China. The result is a US trade deficit of $347 billion, the largest of any US trading partner.
Experts point out that a lower standard of living, which allows companies in China to pay lower wages to workers and an exchange rate that is partially fixed to the dollar is the reason for the trade deficit.
Other Asian countries which the US has a huge trade deficit with are Japan ($69 billion), Vietnam ($32 billion), South Korea ($28 billion), and … [Read more...] about US has trade deficits with most Asian trade partners

Two-way trade turnover between Viet Nam and India reached US$2.24 billion in the first five months of this year, up 47.1 per cent year-on-year.—Photo vov
HA NOI (Biz Hub)— Two-way trade turnover between Viet Nam and India reached US$2.24 billion in the first five months of this year, up 47.1 per cent year-on-year. According to the Viet Nam Trade Office in India, Viet Nam's exports to India hit $1.021 billion, (up 72.6 per cent) while its imports were estimated at $1.225 billion (up 31 per cent), bringing the country's trade deficit down by 40.6 per cent to $203.8 million. The South Asian country was Viet Nam's 10th largest trade partner in the first five months. Five key items exported to India were telephones and components (up 323 per cent to $511 million), computers, electronic products and components (up 58.8 per cent to $79.7 million), machinery, equipment and tools (down 29.8 per cent to $69.5 million), natural rubber (down 12.8 per cent to $40.5 million) and … [Read more...] about Trade with India surges by 47%